Jason Iftakhar, Co-founder: “We have been looking for investment since the company was founded in 2010. Unfortunately, we felt most of the typical investment routes in the UK did not meet our requirements, or meet our vision to grow the company.
Investment was needed to expand sales, launch new product lines and increase our international reach and deliver substantial increase in turnover / profit.”
Swifty Scooters were introduced to Ying De following a referral by Ian Dixon of the Business Growth Hub in Manchester. Jason was particularly keen on working with younger investors who, rather than looking to take control of his business, valued more the opportunity to further develop their skills.
As part of the onboarding process for joining the investment platform, Ying De visited Swifty Scooters’s factory in Manchester, and performed due diligence to ensure their suitability for the platform.
To promote the company, Ying De even invited Jason over to China twice, pitching to hundreds of potential investors in Beijing, Ningbo and Shanghai. Through Ying De’s 9 extensive network in China, Swifty Scooters quickly received interest from aspiring Chinese investors who were attracted by the company’s current successes and were very enthusiastic to be a part of their future growth.
After several rounds of Skype and face-to-face meetings with potential investors, Jason eventually decided to offer Josh Qiao, a design undergraduate at the University of the Arts London at the time, an internship with Swifty Scooters. This arrangement helped Jason enormously in confirming that he was getting the right investor, while Josh could also ensure it was the right project for him.
Meanwhile, Ying De worked on Josh’s visa application to the UK Home Office which included the submission of his business plan for Swifty Scooters. After passing the interview with the Immigration Officer, Josh was granted the T1E visa and then promptly transferred his investment funds to Swifty Scooters.
Camilla Iftakhar, Co-founder: “Our investor has settled into the team very well. He is already proving to be an asset to the team and preforming better than expected given the challenges of living in a foreign country.
Josh Qiao, Investor: “I first came to the UK 2 years ago to study at University of the Arts London. Before I finished my course in Interaction Design Art, I planned to work in a British company for some working experience and have a deeper understanding of the British culture. The Ying De Group helped me find a very good company that fit my interest and also my professional abilities.”